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Apr 22, 2013
04/13
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so it's hard to see the global economy breaking out of the slow to modest growth environment. interest rates we think will stay pretty low. that overall is a reasonably attractive back drop for companies to deliver okay earnings growth. and so we can take earnings disappointments as long as it's minor. but as you say, it is a gdp and an earnings cliff, then we return to late '07/'08 type markets. we don't think it's going to happen, though. >> jonathan, it's ross here. what would you describe as okay earnings growth? >> well, i mean, okay in the context of the last six to nine months has been earnings estimates coming down week after week after week after week. the aggregate impact of that, though, is that european earnings growth expectations for 2012, remember those numbers are not finalized until we see the full years coming in the first part of this year. analyst expectations started last year around plus 10% and then our minus 3%. that's quite a big shift down when you put that into context of what we saw in 2008 where the earnings estimates went from plus 20 to minus 50%
so it's hard to see the global economy breaking out of the slow to modest growth environment. interest rates we think will stay pretty low. that overall is a reasonably attractive back drop for companies to deliver okay earnings growth. and so we can take earnings disappointments as long as it's minor. but as you say, it is a gdp and an earnings cliff, then we return to late '07/'08 type markets. we don't think it's going to happen, though. >> jonathan, it's ross here. what would you...
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Apr 23, 2013
04/13
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we act in an environment where we have large export content. so the world is our market, basical basically, more than europe. >> okay. we'll leave it there. jan erik back. thank you very much. >>> apple will report results today amid the company's free fall in stocks in recent weeks. analysts expect apple will post its year on year decline in a decade. revenue is expected to hit a record but with growth of only on 8% for sales which will be one of the weakest increases in several quarters. the company is hurt by soft demand for the iphone and lower profit margins on the ipad. apple closed about $398 on monday. the stock is down 42% since hitting a record high over $700 in september. so will the company's results leave a sour taste with investors? we'll preview the tech giant's earnings with the editor in about 15 minutes' time. >>> meanwhile, netflix's first quarter profits easily beat forecasts as they reported solid subscriber growth. the company added 2 million new customers for its $8 a month streaming service. the company expects subscribe
we act in an environment where we have large export content. so the world is our market, basical basically, more than europe. >> okay. we'll leave it there. jan erik back. thank you very much. >>> apple will report results today amid the company's free fall in stocks in recent weeks. analysts expect apple will post its year on year decline in a decade. revenue is expected to hit a record but with growth of only on 8% for sales which will be one of the weakest increases in several...
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Apr 16, 2013
04/13
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>> gold i think is a little bit more tricky in this kind of environment. because the shake out that we've seen will sort of dent sentiment on a multi month basis going forward. so i think we sort of tend to prefer things such as bunds where we see 10-year bund yields coming down to below 1 is% in the next six months. treasuries where we sort of see this combined with the continued fed qe purchases producing a move down to 11 is.3% yield. so i think those are the kind of clearer plays that exit in this type of environment. >>> and just talk about spanish bond markets. six-month t bill, it's 0.82 on march 12th. i'm looking for the 12-month yield. 1.274, 1.4%, so t-bill is still coming lower, michael. >> that very much reflects current market conditions and the liquidity phase that we've been in in global markets. this can probably carry for another week or two, but then i think increasingly as we sort of get into the spring and see the economic data continue to remain completely stuck in recession for europe, questions are going to start to be raised and i t
>> gold i think is a little bit more tricky in this kind of environment. because the shake out that we've seen will sort of dent sentiment on a multi month basis going forward. so i think we sort of tend to prefer things such as bunds where we see 10-year bund yields coming down to below 1 is% in the next six months. treasuries where we sort of see this combined with the continued fed qe purchases producing a move down to 11 is.3% yield. so i think those are the kind of clearer plays that...
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Apr 18, 2013
04/13
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it looks like the chief of production goals from unconventional shell plays, i think the environment going forward has never looked brighter for u.s. infrastructure. >> i think et was yesterday someone said nat gas is the new safe haven, suddenly this is start to go look a little more price afforded. any view on that? >> i think that dmodty prices, a broader view, i think that peak energy, we believe in just the opposite at yorkville. we think energy prices will probably be the growth driver of the global economy. it has a lot of implications. it's very good for the u.s. and our consumers. it's very good for china. >> you say peak energy in terms of we're going to see declines -- >> i think we're going to see stability. the new energy supplies coming online are more expensive to extract from the ground, so you're not going to get back to $20 a barrel oil in our lifetime. but this $80 to $11 is 00, peaking at $120 dropping to $60 is probably a new range in the u.s. i see natural gas, it's at 350 right now, roughly, $4 to $6 range, $16 in japan, mid teen prices in germany. that's givin
it looks like the chief of production goals from unconventional shell plays, i think the environment going forward has never looked brighter for u.s. infrastructure. >> i think et was yesterday someone said nat gas is the new safe haven, suddenly this is start to go look a little more price afforded. any view on that? >> i think that dmodty prices, a broader view, i think that peak energy, we believe in just the opposite at yorkville. we think energy prices will probably be the...
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Apr 17, 2013
04/13
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. >> demand environment played out as we expected and i think the company executed well. as i just heard john say, we saw nice growth in our data center business. it was up 7% year on year. and within the overall market for computing, we're seeing nice growth and there's obviously a transition going on there. i think we're well positioned for that as well. >> intel shares closed up less than 1% and moving around after hours. also up a little less than 1% in frankfurt this morning which is no small feat considering germany's market is down by better than 1% as we speak. yahoo! first quarter rose and beat forecasts but revenue was flat and shy of estimates as the company feels the impact of declining web traffic and display ad sales fell for the second straight quarter down 11%. yahoo! is also projecting second quarter revenues that fell short of analysts expectations. ceo marissa mayer says her plans to reverse the trend is still on track and will show results in the second half of the year. she cautions it will be years before yahoo! grows at the rate of rivals of google
. >> demand environment played out as we expected and i think the company executed well. as i just heard john say, we saw nice growth in our data center business. it was up 7% year on year. and within the overall market for computing, we're seeing nice growth and there's obviously a transition going on there. i think we're well positioned for that as well. >> intel shares closed up less than 1% and moving around after hours. also up a little less than 1% in frankfurt this morning...